Published 1:00 pm, Friday, July 8, 2016

The S&P 500 came within a hair's breadth of an all-time high Friday after the best jobs report in seven months.

The US economy added 287,000 jobs in the month of June, well above the 180,000 expected by economists. On the back of this strong economic result, all the major indexes leapt higher to end the week.

The S&P 500 closed roughly 1 point away from its all-time high close, and it eclipsed that mark during trading.

We've got what you need to know from Friday, but first, the scoreboard:

Dow: 18,146.74, +250.86, (+1.40%)

S&P 500: 2,129.90, +32.00, (+1.53%)

Nasdaq: 4,956.76, +79.75, (1.64%)

WTI crude oil: $45.18, $0.05, (+0.11%)

10-year Treasury yield: 1.3660%, (-1.51%)

FTSE 250: 16,177.75, +278.94, (1.75%)

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The jobs report gave a great signal about the strength of the labor market. The unemployment rate ticked slightly higher, but mostly because of improvement in the labor force participation rate. On the negative side, however, the dismal May jobs report was actually revised down from 38,000, to 11,000. "I don't think this suggests we're off to the races again, but I think this reinforces this mature trend in jobs growth which is still relatively healthy, but also an economy that's doing relatively well and is not heading into recession-type conditions," Liz Ann Sonders, chief investment strategist at Charles Schwab, told Business Insider after the report.

Americans are getting paid more. In addition to the big headline beat, average hourly earnings grew at the fastest pace since the end of the recession, with a 2.6% year-over-year uptick. Despite the jump, it still fell short of economists' predictions of a 2.7% gain.

Canada was not so lucky. In its own version of the employment report, the Canadian economy lost 700 jobs in the month of June, well below the 5,000 increase expected by economists. June rounded out the second quarter, making the total number of jobs added in the last three months just 11,000 — the worst for a quarter in two years.

The bond market just hit a 60-year low. According to Lotfi Karoui at Goldman Sachs, the Moody's BAA corporate bond index, which measures the average yield of mid-grade corporate bonds, hit its lowest yield since August 1956.